Business & Markets
EU Proposes Permanent Scheme for Joint Gas Purchases
The European Commission has proposed making the EU's scheme for joint gas purchases permanent, after demand exceeded expectations in the policy's first tenders to seek non-Russian fuel, a document showed, and officials told Reuters.
Shell, Trinidad Weigh Venezuela's Natural Gas Investment Demands
Shell and Trinidad and Tobago's National Gas Company (NGC) are close to agreeing to credit Venezuela's state-run oil firm for its $1 billion investment in a gas field the three want to jointly develop, four people close to the discussions said.
Venture Global and Baker Hughes Expand LNG Equipment Supply Agreement
(P&GJ) — Venture Global LNG has announced a significant expansion plan to boost its LNG production capacity from 70 million tonnes per annum (MTPA) to over 100 MTPA of LNG export capacity.
Berkshire Hathaway Successfully Acquires Dominion Energy’s 50% Stake in Cove Point LNG
(P&GJ) — Berkshire Hathaway Energy has completed the purchase of Dominion Energy’s 50% limited partnership stake in the Cove Point LNG, LP business, resulting in a total ownership interest of 75%.
Black & Veatch Expects Floating LNG Capacity to More Than Quadruple by 2030
U.S.-based engineering and construction group Black & Veatch (B&V) said on Monday it expects global floating LNG capacity to increase more than four-fold to 46.4 million metric tons per annum (MTPA) by 2030, as they have become competitive with fixed terminals for smaller fields.
Israel, Cyprus and Greece Mull Energy Pacts to Tap Regional Gas
The leaders of Israel, Greece and Cyprus pledged to deepen their energy cooperation on Monday and explore ways to get East Mediterranean gas to Europe, as well as connect electricity grids.
MET Group Inks 20-Year LNG Supply Deal with Commonwealth LNG
Switzerland-based energy trader MET Group said on Monday it has signed a preliminary agreement with Commonwealth LNG to buy liquefied natural gas (LNG) from the U.S. company's facility currently under development in Cameron, Louisiana.
Hundreds of Millions Pledged for African Carbon Credits at Inaugural Climate Summit
An initiative to boost Africa's carbon credit production 19-fold by 2030 drew hundreds of millions of dollars of pledges on Monday as Kenyan President William Ruto opened the continent's first climate summit.
EIA Says Depleting US Crude Inventories Lift Oil Prices
U.S. commercial crude oil inventories have depleted by 34 million barrels since the middle of July, contributing to a sense the market is tightening and driving a recovery in spot prices and calendar spreads.
US Backs Chevron's Subsea Pipeline Plan for Aphrodite Gas Field Amid Cyprus Dispute
Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the U.S. company's plan to link it to neighboring Egypt, two industry sources and a U.S. source said on Friday.
Japan's Mitsui, Others to Jointly Study Hydrogen, Ammonia Supply Chain in Osaka
Japan's Mitsui & Co., Mitsui Chemicals, IHI Corp. and Kansai Electric Power Co. will conduct a joint study for establishing a hydrogen and ammonia supply chain in the Osaka coastal industrial zone, the companies said.
Newfoundland Selects Multiple Wind Farm Projects to Power Hydrogen Plants
Canada's gusty Atlantic province of Newfoundland and Labrador selected four companies on Wednesday to develop wind farms to supply power for new hydrogen plants, conditional on further approvals.
Eni, Snam Set Ambitions for Italy's First Carbon Storage Project
Carbon capture and storage (CCS) technology is key to ensuring the survival and the competitiveness in Italy of industries including steel, cement and chemicals, energy group Eni and gas grid operator Snam said on Friday.
Aliso Canyon to Store More Gas to Prevent Winter Price Spikes
California's utilities regulator on Thursday raised the inventory level of Aliso Canyon natural gas storage to prevent price spikes seen last winter, while seeking to wean the state off the facility that in 2015 caused the biggest gas leak in U.S. history.
Gazprom Drives Over Half of China's Gas Import Surge, CEO Says
Alexei Miller, the chief executive of Russian gas giant Gazprom, said on Thursday that the company accounts for more than half the increase in China's gas imports this year, without providing figures.
Canada's Altagas to Buy Natural Gas Assets from Tidewater for $480 Million
Canada's Altagas has agreed to buy some natural gas assets from Tidewater Midstream and Infrastructure for $650 million, the companies said on Thursday.
Argentina's Vaca Muerta Injects Record Gas as New Pipeline Boosts Capacity
Argentina's southern Neuquen province, home to the Vaca Muerta shale formation, has posted a record daily amount of gas injected into the country's pipeline system, topping 100 million cubic meters daily.
DT Midstream Successfully Completes Phase 1 LEAP Expansion Ahead of Schedule
(P&GJ) — DT Midstream Inc. has announced the successful early commissioning of its LEAP phase 1 expansion, increasing capacity from 1.0 Bcf/d to 1.3 Bcf/d, surpassing its planned Q4 2023 in-service date and staying within budget.
Trans Mountain Pipeline Expansion Faces Further Delays Over Route Change Dispute
Trans Mountain Corp. fears that the expansion of its Canadian oil pipeline may be delayed further unless a regulator allows it to change its route in British Columbia, according to a First Nation that opposes the route adjustment.
Kinder Morgan Prepares to Close Florida Pipeline System Ahead of Hurricane Idalia
U.S. oil producer Chevron on Tuesday said it evacuated staff from three U.S. Gulf of Mexico oil production platforms while Kinder Morgan planned to shut its Central Florida Pipeline system, as the energy companies braced for Hurricane Idalia.
US LNG Projects Win Higher Processing Fees as Interest Rates Climb
Long-term buyers of U.S. LNG are willingly agreeing to higher liquefaction fees at newer export projects, according to analysts and developers familiar with the matter.
LNG Imports from Russia Rise, Despite Cuts in Pipeline Gas
European Union countries have increased their imports of LNG from Russia compared with before the Ukraine war, despite the EU's aim to quit Russian fossil fuels within a few years, an analysis by campaigners showed.
Tanzania Names New Energy Minister to Oversee LNG Development
Tanzania President Samia Suluhu Hassan named a new energy minister on Wednesday as part of a cabinet reshuffle, ahead of expected cabinet approval for a $42 billion LNG project.
Norway's Equinor Acquires a Stake in U.S. Bayou Bend CCS Project
Norwegian oil and gas company Equinor said on Monday it has acquired a 25% stake in Bayou Bend CCS LLC, a U.S. project to capture and store carbon dioxide (CO2) emissions along the Gulf Coast in southeast Texas.
FuelCell, Exxon Mobil to Extend Carbon Capture Deal
FuelCell Energy said on Monday it would extend a carbon capture joint development agreement with a unit of Exxon Mobil to March 31 next year.
Japan's Eneos, Osaka Gas Study Building Large E-Methane Facility in Osaka
Japan's top refiner Eneos and city gas supplier Osaka Gas said on Tuesday they have begun a joint study of construction of an e-methane facility with the capacity to produce 60 million cubic meters of the fuel per year.
Williams to Complete US Natural Gas Pipelines by 2024
(P&GJ) — Iowa regulators consider permits for the 'largest' CO2 pipeline; Williams is on track to complete two gas pipeline projects by the end of 2024; Pinnacle Midstream has doubled its Midland basin processing capacity, and more!
Tivoli Midstream Acquires 140-Mile Oil Pipeline System from Phillips 66
(P&GJ) — Tivoli Midstream LLC has announced the closing of an acquisition of a crude oil pipeline system in Northern Texas (NTX) from affiliates of Phillips 66. NTX consists of approximately 140 miles of crude oil gathering and transportation pipelines and storage capacity in the Barnett Shale area of Northern Texas.
Pemex Crude Processing Slides in July, Production Lowest This Year
Crude processing at Mexican state oil company Pemex's domestic refineries fell in July to 768,732 barrels per day (bpd), well below the goal of 1 million bpd set by the government in its effort to make the country self-sufficient in energy next year.
Australia's Kinetiko Energy in Talks with Sasol on Gas Supply Deal
Australian gas explorer Kinetiko Energy, which has found shallow sandstone gas in South Africa, has started talks with petrochemical company Sasol on a possible supply agreement, Kinetiko’s chief executive said on Monday.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
